Online casino – Page 3

October 3, 2024

Gambling advertising laws tightened in New York

The bill ensures all forms of wagering, including online, will carry responsible gambling messaging.
In a move aimed at addressing the growing concerns over gambling addiction, New York’s governor, Kathy Hochul, signed into law new legislation that mandates stronger warnings in gambling and sports betting advertisements. The legislation, S1550/A1118, requires all gambling-related advertisements, including those for mobile sports wagering, to include clear warnings about the potentially harmful and addictive effects of gambling.

This move expands on previous regulations. New York previously required only the display of a problem gambling hotline number and didn’t cover online gambling.

The legislation also mandates that the New York State Gaming Commission collaborate with the Commissioner of Addiction Services and Supports to ensure that all gaming-related advertisements prominently display a hotline for problem-gambling assistance.

“I want New Yorkers to be able to safely enjoy the..

October 2, 2024

Sweden channelisation rate at 86% according to Spelinspektionen report

Sweden gambling regulator Spelinspektionen has placed the country’s online channelisation rate at 86%; higher than operator estimates and some way above the previous year’s figure.
Detailed in a new report, the Sweden channelisation rate applies to the online gambling market in 2023.

The latest rate surpasses the 77% Spelinspektionen reported for 2022. It is also above forecasts from several operators local including Aktiebolaget Trav och Galopp, which in March estimated a rate of between 69% and 82%.

Unlicensed turnover hits SEK2.5bn
The regulator estimates black market sites generated SEK2.5bn (£183.5m/€220.2m/$243.3m) in turnover in 2023, compared to SEK17.3bn for licensed operators.

However, estimates are based on the assumption that players are wagering the same amount per visit across both unlicensed and licensed operators, which the regulator itself said may not be the case.

The regulator used several methods to come up with the channelisation rate, with 86% representing t..

October 1, 2024

Episode 34: Football returns, DC gets in the game and more

Welcome back to the World Series of Politics! This week Brandt Iden and Brendan Bussmann guide you through the early weeks of the NFL’s $35bn season and Washington DC sports betting finally getting competitive.

If that’s not enough we’ve also got Missouri sports betting confirming its place on the ballot and some rumblings about Arkansas igaming. Arkansas sports betting – limited to one casino and two racinos – hasn’t quite hit the numbers so will replicating that model work for online casino?

Listen to the World Series of Politics on Apple Podcasts

We’ve got all the latest regulatory wranglings in this episode. Brendan even finds time to solve a Rubik’s cube live on air.

September 26, 2024

Study suggests Canadian regulators should pace themselves when crafting RG rules

Within a year of launching legal online gambling in Canada, complaints about frequency and content of advertising were common. A new study suggests regulators are moving too quickly to appropriately address the issue.
The Canadian Gaming Association on Wednesday (25 September) released an academic and policy study. It posits that new gambling regulations in Canada are “evolving at a faster rate than the accompanying evidence base”. This could ultimately mean that regulations don’t tackle targeted issues and could be “insufficiently nuanced”.

The study – a “rapid review” – is designed to be informational for regulators and other stakeholders. GP Consulting conducted the study using a US-based team. The team included policy specialists from from Eilers & Krejcik and academics from UNLV’s International Gaming Institute and Washington State University.

The authors studied academic literature related to online sports betting and casino advertising and how it might inform responsible gamb..

September 25, 2024

Dutch operators face player losses lawsuit dating back to 2021

Dutch advocacy organisation Gokverliesterug has initiated a class action lawsuit against a group of licensed online gambling operators in relation to their activities before being licensed in the country.
The Gokverliesterug lawsuit is seeking reimbursement on behalf of Dutch consumers for losses made prior to October 2021. The Netherlands launched its legal online gambling market on 1 October 2021 but several operators – which are now licensed – were active prior to this.

Specifically, the lawsuit names major operators such as Unibet, Bwin, PokerStars and Bet365. However, Bet365 has contacted iGB to clarify it was not active in the Netherlands prior to regulation.

Gokverliesterug states operators allowed hundreds of thousands of Dutch people to gamble prior to the legal market opening, which left many consumers without sufficient supervision and protection against problem gambling behaviours.

Gokverliesterug said it has chosen to act now following several recent rulings from Dutc..

September 23, 2024

Spain online gambling revenue up 11% in Q2

Online gross gambling revenue (GGR) in Spain amounted to €346.3m (£290.1m/$386.4m) in Q2, an increase on the previous year but slightly lower than the opening quarter of this year, despite the opening of UEFA's Euro 2024 in June.
The Q2 total is 10.8% higher than €312.6m in Q2 of last year, according to Spain’s regulator Directorate General for Gambling Regulation (DGOJ). However, the figure – covering the April-June period, is 1.2% behind the $350.7m revenue reported in Q1 this year.

Casino was again the main source of online GGR in Spain, generating €171.7m, or 49.6%, of all Q2 revenue. This is 14.6% more than last year and also a 2.3% increase from Q1’s total.

Within online casino, slots GGR increased by 19.5% from last year, while live roulette revenue was also up 9.6%. Slots and blackjack revenue also improved quarter-on-quarter but both conventional and live roulette revenue were down.

Mixed results for sports betting in Q2
Looking elsewhere in the market, sports bettin..

September 20, 2024

State of the Union: Status of ESPN Bet in NY, North Caroline retail, OK bill coming?

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.
ESPN Bet about to get closer to NY launch?
The New York State Gaming Commission Monday (23 September) will consider Penn Entertainment’s application to take over the WynnBet New York licence. The plan has been in the works since WynnBet exited the New York market earlier this year. Should Penn get approval, it will be able to launch its ESPN Bet platform in the biggest competitive market in the US. New York law caps the number of platforms at nine. Licences only come available if a company exits the state.

Penn executives on the company’s second-quarter earnings call pointed to a September launch, potentially by the start of football season. Should the regulator approve the licence transfer, Penn will still have a few steps to take before it could launch ESPN Bet.

Every major US operator is live in New Yor..

September 19, 2024

US sports betting round-up: Kansas, Connecticut and Delaware in August

Rounding up some of the latest monthly sports betting results, iGB analyses how Kansas, Connecticut and Delaware performed during August.
Handle growth drives revenue up in Kansas
Starting in Kansas, total revenue from online and retail sports betting in August hit $6.6m (£5.0m/€5.9m). This is 37.5% ahead of August last year, but 28.3% less than in July.

Online betting drew $6.5m of all revenue in August, with retail’s share at just $123,489.

Spending-wise, total handle for August topped $147.0m. This is some 55.7% ahead of last year and 20.5% higher than July.

As for hold, total hold for the Kansas market in August was 4.5%. Online hold also hit 4.5%, with retail at 3.0%.

DraftKings remains the one to beat in Kansas
Looking to operators in Kansas, DraftKings continues to lead the online market. Partnered with Boot Hill Casino, DraftKings posted $3.0m in revenue off $67.7m in bets, a 4.4% hold.

FanDuel again placed second with $2.6m off $43.8m in handle via its partnership with Ka..

September 19, 2024

Pennsylvania igaming revenue falls just short of monthly record in August

Pennsylvania reported a year-on-year and month-on-month increase in gambling revenue in August, driven by a near-record performance from the state’s igaming market.
Total gambling revenue in Pennsylvania in August hit $525.5m (£397.1m/€472.1m). This is 14.9% ahead of last year and 4.9% more than July’s total for this year.

Ongoing igaming growth in Pennsylvania

The stand-out figure in August was igaming revenue, which amounted to $183.7m. Not only is this 29% more than last year but also the second-highest monthly total on record, just short of March 2024’s $191.1m haul.

Breaking this down, online slots generated $138.3m of all igaming revenue in August. Table games drew $43.2m, with poker revenue topping $2.2m for the month.

As has been the case for some time, Hollywood Casino at Penn National Race Course is still the market leader here. For August, it posted $72.1m in online casino revenue. Valley Forge Casino Resort remains second with $46.0m, then Rivers Casino Philadelphia on..

September 18, 2024

Michigan: Igaming growth drives online gambling revenue increase in August

The Michigan Gaming Control Board (MGCB) reported a year-on-year and month-on-month increase in online gambling revenue in August, driven by growth within the igaming sector.
Igaming gross receipts and gross online sports betting receipts from commercial and tribal operators in August amounted to $224.0m (£170.2m/€201.5m). This is 27.7% more than last year in Michigan and 1.4% higher than in July this year.

Data, published by the MGCB on Tuesday (17 September) shows igaming accounted for $196.7m of all revenue during August, up 29.2% year-on-year. Gross sports betting receipts were also 18.1% higher for the month at $27.4m.

The MGCB also sets out adjusted gross receipts (AGR), which account for promotional spending in Michigan. For August, the total for the state’s online gambling market was $193.2m, a rise of 26.2% on last year’s total.

Of this, $176.9m came from igaming, a year-on-year rise of 30.9%. In terms of sports betting, AGR reached $16.3m, up 2.5% from the previous year.

September 17, 2024

CFTC: Lower court made several errors in allowing Kalshi’s US political futures

Last week, two federal court rulings allowed then subsequently disallowed Kalshi from offering futures contracts on the outcome of congressional elections. Over the weekend, federal regulators said it should have never been allowed in the first place.
On 12 September, Judge Jia Cobb from the US District Court for the District of Columbia Circuit ruled that the Commodity Futures Trading Commission (CFTC) “exceeded its statutory authority” when it halted the contracts last year. But hours later, the CFTC appealed to the US Court of Appeals for the District of Columbia Circuit. That court granted a stay, meaning Kalshi cannot offer futures until the appeals court rules. Kalshi and the CFTC are scheduled to give oral arguments for the case on Thursday (19 September).

Kalshi and the CFTC will face off in court- again- on Thursday, to debate the commission's argument that election betting should be frozen pending its appeal pic.twitter.com/GEPbuc5I2D
— Alexander Osipovich (@aosipovic..

September 17, 2024

New Jersey: Record igaming revenue drives growth in August

Gambling revenue in New Jersey increased 4.4% year-on-year in August, helped by a record performance by the Garden State’s igaming market.
Total revenue for August reached $555.1m (£420.0m/€498.7m). This is ahead of $531.6m in New Jersey last August and also 1.3% more than $547.8m in July this year.

Without doubt, the stand-out figure for New Jersey in August was igaming revenue. Here, revenue jumped 27.8% year-on-year to $198.4m – a new monthly record for the state.

This includes $196.0m in internet slots revenue, an increase of 28.2%. On the other hand, online peer-to-peer remained level at $2.4m for the month.

Golden Nugget was again the leading master licensee in the igaming market. Skins operating via its licence, which in addition to Golden Nugget are FanDuel, Betway and BetRivers, generated $55.0m in revenue.

However, as was the case in July, DraftKings was the leading igaming operator. It posted $43.2m in online casino revenue, ahead of FanDuel on $41.3m. Another brand of n..

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Tag: Online casino